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SBI Changes Cash Deposit Rules For Its SB Accounts

State Bank of India savings account holders, India’s biggest bank has removed the limit on the quantity which will be deposited in an exceedingly non-home branch. This was declared by SBI on Twitter.

“Good news SBI customers! Currently, the higher cap for depositing money at a non-home branch has been updated,” the bank said. A home branch is that the branch wherever a client includes a checking account. All alternative branches of the bank ar non-home branches for the client.

According to SBI’s tweet, in personal savings checking account, there’ll be no restrictions on the quantity which will be deposited at a non-home branch. Earlier, this limit was Rs twenty five,000, in line with SBI’s web site. SBI levies Rs fifty (plus GST) per dealing on money deposits at non-home branches, says its web site.

For SME section accounts, the cap on money deposits at non-home branch remains at Rs 2 lakh per day, SBI same within the tweet.

SBI has been urging its customers, WHO hold magstripe debit cards, to change to chip-based debit cards. “Do not take a chance; get increased security for your charge account credit by applying for the SBI EMV Chip charge account credit with no fee at your branch or through OnlineSBI,” said SBI in another tweet.